Биткоин на пороге октябрьского ралли: аналитики предсказывают мощный рост Translation: Bitcoin on the brink of October rally: analysts predict strong growth

As of the end of September, the price of Bitcoin, the leading cryptocurrency, increased by 5% despite experiencing volatility. Analysts have identified several key indicators pointing to a possible significant movement for Bitcoin.

CryptoQuant experts noted a decline in the RSI of the Stablecoin Supply Ratio (SSR) to its lowest levels in months, hitting 21. This metric measures the purchasing power of stablecoins against digital gold and is currently in an accumulation zone.

Similar metric levels in May accompanied the formation of a price bottom for Bitcoin below $75,000, after which there was a 67% increase, reaching an all-time high of approximately $124,500.

The drop in the ratio indicates a growing purchasing power of stablecoins, corroborated by increasing liquidity with more than $10 billion in USDT issued over the last 60 days.

«This is a clear indication of fresh liquidity entering the market. The increase in stablecoin supply lays a strong foundation for a bullish market,» the experts stated.

CryptoQuant also highlighted long-term Bitcoin holders, who continue to build their positions, now holding a record 298,000 BTC.

According to the specialists, this signifies positive sentiment regarding the potential of the leading cryptocurrency among investors.

Previously, Bitwise pointed out the conclusion of Bitcoin’s down phase. Experts noted that sellers appear to be «increasingly exhausted.»

The analytical platform Swissblock also emphasized that the cryptocurrency market has entered a «reload» phase, as indicated by the Impulse Signal, which tracks price dynamics of 350 leading assets. The metric fell from 100% a few weeks ago to its current 20%.

«This is a moment when panic subsides, and new buyers emerge,» the experts remarked.

They added that this scenario has only occurred three times since the beginning of 2024, each coinciding with the «bottom of the cycle» for digital gold, followed by a steady price recovery for the cryptocurrency.

«We are once again approaching such a configuration,» Swissblock concluded.

In the last 24 hours, the price of Bitcoin increased by 3.5%. At the time of writing, the leading cryptocurrency is trading around $116,500.

The asset’s recovery coincided with a rise in gold prices, hitting a new all-time high. On October 1, the price of the precious metal reached a record $3,895 per ounce.

Technical analysis confirmed the recovery of the correlation between Bitcoin and gold, with trader HTL-NL publishing a chart showing the BTC to precious metal ratio attempting to break through key long-term resistance.

Andrei Dragosh, head of Bitwise’s European research division, believes that the gold rally has already peaked. He suggested this might have a positive impact on risk assets, including cryptocurrencies.

For the third consecutive year, Bitcoin closed September «in the green.» Historically, this month has been considered one of the worst for digital gold.

Analyst Mikybull Crypto noted that after every successful September for cryptocurrency, «there followed a massive rally in the fourth quarter.»

Let us remember that experts have predicted a bullish «Uptober» despite signals of fear.